Comments in response to the Request for Information on the disposition of Real Estate Owned (REO) properties held by the Federal Housing Administration (FHA) and the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are due to the Federal Housing Finance Agency (FHFA) no later than September 15.
FHA and the GSEs collectively have listed for sale approximately 92,000 REO single-family properties acquired through foreclosure. The Administration intends to reduce the number of properties held by FHA and the GSEs, increase private investment in the housing market, and “where feasible and appropriate, improve the supply of rental housing.” The Administration anticipates that most comments will recommend some form of REO-to-rental structure (see Memo, 8/19).
Advocates are urged to submit comments stating the importance of affordability in any REO disposition program. NLIHC also encourages readers to provide feedback on NLIHC’s draft comments prior to the submission due date.
NLIHC’s draft comments are available at: http://nlihc.org/doc/NLIHC_Draft_REO_Comments.pdf
A press release announcing the RFI is available at http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2011/HUDNo.11-167
The RFI is available at http://www.fhfa.gov/webfiles/22366/RFIFinal081011.pdf
A breakdown of listed properties by state and community is available at http://nlihc.org/doc/REO_Properties_7-18-11.pdf